Retail giant Target Corporation (NYSE:TGT) looks to continue strong stock momentum with second-quarter financial results coming Wednesday before market open.
Here are the earnings estimates, what analysts are saying ahead of the report and key items to watch.
• Target stock is gaining positive traction. What’s pushing TGT stock higher?
Target Q2 Earnings Estimates
Analysts expect Target to report second-quarter revenue of $26.13 billion, up from $25.21 billion in last year’s second quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in five of the last quarters, including the most recently reported first quarter.
Analysts expect Target to report second-quarter earnings per share of $2.32, up from $2.05 in last year’s second quarter.
The company has beaten analyst estimates for earnings per share in four straight quarters and in seven of the last 10 quarters overall.
Target Analyst Ratings and Commentary
Target’s turnaround has attracted positive commentary from analysts and higher price targets as the stock soars in 2026.
Even some of the analysts with bearish ratings have raised price targets to close to where shares trade now or slightly below, suggesting there may not be more upside, but also that downside is limited even after the surge in the share price.
Here are some of the most recent Target analyst ratings and price targets:
- DA Davidson: Maintained Buy rating, raised the price target from $155 to $170
- Telsey: Maintained Outperform rating, raised the price target from $150 to $170
- Truist Securities: Maintained Hold rating, raised the price target from $130 to $147
- Piper Sandler: Maintained Neutral rating, raised the price target from $127 to $146
- Jefferies: Maintained Buy rating, raised the price target from $161 to $177
- RBC Capital: Maintained Outperform rating, raised the price target from $153 to $166
Key Items to Watch
Target stock has been on fire in 2026 and a strong earnings report and guidance are likely needed to keep momentum going.
The retailer posted a double beat in the first quarter, which comes as recent quarterly results have struggled to beat analyst estimates for revenue.
First-quarter comparable sales were up 5.6% year-over-year with comparable traffic up 4.4% year-over-year. Target said it saw net sales increase across all six core merchandising categories.
Target could be in for more gains in the second quarter based on traffic trends. A Placer.ai report says visits to Target stores were up 4.7% year-over-year in the second quarter. That comes in higher than a gain of 0.7% for rival Walmart (NASDAQ:WMT).
Here are the year-over-year visit performance by month in the report for the two retailers:
- April: Target +5.3%, Walmart +1.2%
- May: Target +4.6%, Walmart +0.7%
- June: Target +4.4%, Walmart +0.2%
- July: Target +7.3%, Walmart +2.4%
The data shows that Target could have higher visitor growth than Walmart and based on normal spending habits, this could mean gaining market share. While July won’t factor into second-quarter results, this is the top month for Target on a year-over-year visits basis according to Placer.ai, which could factor into guidance.
Target raised its 2026 sales outlook after first-quarter results. Analysts and investors could be expecting another raise to guidance with a strong report. The July visits data could suggest that sales are trending higher in the third quarter.
Target Stock Price Action
Target stock is up 1% to $152.51 on Tuesday versus a 52-week trading range of $83.44 to $156.47. Target stock is up 52.8% year-to-date, recently hitting two-year highs.
Image by Ken Wolter via Shutterstock
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